Not sure I like this

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Not sure I like this

Postby CJBurgandy on Wed Nov 17, 2004 6:15 pm

http://moneycentral.msn.com/content/CNB ... p?GT1=5809

K-mart bought out Sears-Roebuck. I'm not sure I like this. 2 years ago, K-mart yanked out all of their store from the state of Alaska. I'm worried they might yank Sears. (Which would be stupid for a number of reasons)

Simular to Rite-Aid, K-mart thinks that there isn't a profitable market in Alaska. I'll be really pissed though if they yank Sears. Seeing how I now have Neely's old Kenmore Vaccuum cleaner, Sears is the only place in town that I can get bags for it. Plus I know that store gets a lot of business, I used to work there. (back in 98 )

It's also one of the few places you can find Jeans in my brother's size. he's a 28x36, though we usually buy hm a 30 waist because the 28s are too hard to find. But the 30's are really hard to find too. It's like people think if someone is abnormally tall, they can't be abnormally skinny too.
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Postby Squidflakes on Wed Nov 17, 2004 6:20 pm

Kmart, after closing all of their stores is doing suprisingly well. They are trading higher than Wal-Mart, if you can belive that.

I just hope they don't yank the Sears name plate. It has been an institution in this country for hundreds of years.
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Postby SpasticSage on Thu Nov 18, 2004 4:23 am

squidflakes wrote:They are trading higher than Wal-Mart, if you can belive that.


No they're not.

Per share, sure. But how many shares are there of each company?

Better measure is Market Capitalization = Share Price x #Shares Outstanding

KMart = 10 Billion
WalMart = 238 Billion

(according to finance.yahoo)


Anyone for round two of drunken finance?
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Postby Squidflakes on Thu Nov 18, 2004 5:50 am

For the bond traders I work with, market capitalization doesn't mean anything. It's share price, no matter how many outstanding they have.
Of course Kmarts credit rating has them hovering near junk bond status, but with intrest rates starting to climb, people are falling all over themselves to buy.
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Postby Grabmygoblin on Thu Nov 18, 2004 6:52 am

here's hoping they don't yank your sears CJ. :wink:
but I don't have a problem with this merger, this is the kind of merger that makes sense. two once powerful companies that are now doing poorly combine their common advantages and resources to keep afloat.

on another topic (somewhat related) for some reason wal-mart is determined to move into the west side of my hometown.
the thing is, my hometown has a thriving k-mart plaza on the east side.
if wal-mart were to move in, they would wipe out the plaza and leave this huge empty strip mall out in the middle of nowhere, and likely later decide to close up shop anyways, because there is another wal-mart 20 miles away.
*smacks head*
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Postby RavenxDrake on Thu Nov 18, 2004 10:52 am

Alas, grabby, that is WalMart's general MO. Move into an already congessted area, kill off the competition then go bankrupt, forcing everything to close, and leaving all the spillover cutomers to go to an already established walmart. They didn't lose anything, as they can resell the storefront they created to someone else who'll likely either die off or stay just barely afloat.

They have the money to make this a vaible long term business strategy, I should know, I used to work there, and that's how our regional manager thought.

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Postby CJBurgandy on Thu Nov 18, 2004 7:02 pm

actually Wal-mart did the town of Eagle River good. Eagle River had two grocery stores (Carrs and Safeway) and one drug store (Pay-N-Save).

One day, Pay n save was bought by a comapany called Payless, which was then bought by Rite Aid. Rite Aid decided that Alaska was not a profitible place, so it closed all it's Alaskan stores.
Then Safeway bought out Carrs (they kept Carrs' name though). Eagle River was then down to one store. The store, seeing this, jacked up all the prices. So it was shop there or drive 15 miles to Anchorage.

Wal-mart put in the tiniest wal-mart in Eagle River. It doesn't sell much food, so Carrs was still the main store for that, but everything else was at wal-mart. For the first time, people could buy clothes without driving to Anchorage.

Last Year, Fred Meyers moved to Eagle River, now causing compatition for both Safeway and Wal-mart, so Eagle River now seems to be a balanced town. I don't think Freddy's would have put a store there had Wal-mart not shown that the town was in need of more than just one store.
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Postby Squidflakes on Thu Nov 18, 2004 7:47 pm

Alaska is always a study all its own though. No other state faces the same problems with supply or over abundance of places to put things.

While I'll agree that in some cases, Wal Mart can be good for the local economy, there are many many other instances where all they do is the merchant version of slash and burn. Of course thats one of the risks we take being a capitalist society.
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Postby Nithos on Fri Nov 19, 2004 2:32 am

It's amazing how tightly they can pack some of these places. There are two safeways withen an easy drive, an albertsons, a fred meyer, a wal-mart, a QFC, 3 starbucks, 2 coffee people's, and a half dozen other small coffee stands... compitition is alive and well here, Wal-mart hasn't monopolized everything yet :D
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Postby Infinity-Iz-Blue on Tue Nov 23, 2004 10:45 pm

Safeway? I thought that was a purely English establishment. Who were recently bought out by Morrison's, an up-and-coming heavyweight over here. As for the whole capitalism/greed thing, yeah, it sucks, but capitalism eppears to be the only system that works for more than a century.
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